The Nigerian naira opened the new week relatively stable against the United States dollar, with the official market rate remaining significantly below the parallel-market quotation.
At the Nigerian Foreign Exchange Market (NFEM), the dollar is currently around ₦1,326.84, according to live exchange rate data for Monday, September 14, 2026.
The parallel market, meanwhile, is trading the dollar at about ₦1,380 to buy and ₦1,390 to sell, based on the latest available market quotations. The rate was also around ₦1,390 at the close of last week.
This puts the gap between the official NFEM rate and the parallel-market selling rate at roughly ₦63.16 per dollar.
For Nigerians looking to buy dollars in the parallel market, $100 would cost approximately ₦139,000, while $1,000 would require about ₦1.39 million at the prevailing selling rate.
On the other hand, anyone selling $100 at a parallel market buying rate of ₦1,380 would receive about ₦138,000.
The naira’s recent performance comes amid improved dollar liquidity and efforts by the Central Bank of Nigeria to stabilise the foreign exchange market. Recent NFEM trading has kept the official rate around the ₦1,320–₦1,330 range, while the parallel market has remained close to ₦1,390.
The difference between the two markets reflects their separate pricing mechanisms and liquidity conditions. The official NFEM rate is determined through transactions in Nigeria’s regulated foreign exchange market, while parallel market rates are influenced largely by demand and supply among Bureau de Change operators and other informal dealers.
The dollar-naira exchange rate could continue to be influenced by foreign exchange liquidity, crude oil earnings, external reserves, diaspora remittances, investor inflows and monetary policy decisions in the coming days.
Market participants will also be watching official NFEM trading closely this week for signs of whether the naira can sustain its recent stability against the dollar.
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